The newspaper, citing anonymous sources close to the negotiations, said the agreement would feature a hard salary cap linked to 54 percent of league revenue, a 24 percent rollback of existing contracts and qualifying offers. It would also include a provision that would limit the salary of any player to 20 percent of the team cap figure in any season.

The salary cap would be $37 million and wouldn't include medical and dental benefits and pension payments, the Times reported.

WOW!!! All players get a 24% paycut!!! and a hard salary cap!!! Looks like the owners are winning this one, guess that means we can look forward to another strike whenever this CBA expires.....